IDEAS home Printed from https://ideas.repec.org/p/phd/dpaper/dp_2018-39.html
   My bibliography  Save this paper

Modelling Reality: A Short History of Selected Philippine Macroeconometric Models

Author

Listed:
  • Abrigo, Michael Ralph M.
  • Quimba, Francis Mark A.
  • Reyes, Celia M.
  • Baje, Lora Kryz
  • Calizo, Sylwyn Jr. C.
  • Tam, Zhandra C
  • Bayudan-Dacuycuy, Connie
  • Borromeo, Nico B.
  • Hernandez, Gabriel Iñigo M.

Abstract

This scoping paper traces the evolution of macroeconometric modelling approaches in literature. In particular, the Cowles Commission Approach, the , the London School of Economics Approach, and the General Equilibrium method are discussed by focusing on the theoretical underpinnings and assumptions of and criticisms on each model. The paper also provides a summary of the past and present macroeconometric models of the Philippine economy and highlights the strengths and criticisms of each model. The stock-taking indicates that there is a need for a new macroeconometric model for the Philippines considering that the only active model lacks further details on the real sector and is intended to address policy questions in the monetary sector. The development of a new macroeconomic model is also consistent with the needs of the major macroeconomic policy making bodies of the State, such as National Economic and Development Authority and the Bangko Sentral ng Pilipinas, to conduct macroeconomic surveillance, analysis and policy simulations.

Suggested Citation

  • Abrigo, Michael Ralph M. & Quimba, Francis Mark A. & Reyes, Celia M. & Baje, Lora Kryz & Calizo, Sylwyn Jr. C. & Tam, Zhandra C & Bayudan-Dacuycuy, Connie & Borromeo, Nico B. & Hernandez, Gabriel Iñi, 2018. "Modelling Reality: A Short History of Selected Philippine Macroeconometric Models," Discussion Papers DP 2018-39, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2018-39
    as

    Download full text from publisher

    File URL: https://www.pids.gov.ph/publication/discussion-papers/modelling-reality-a-short-history-of-selected-philippine-macroeconometric-models
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:phd:dpaper:dp_2018-39. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Aniceto Orbeta (email available below). General contact details of provider: https://edirc.repec.org/data/pidgvph.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.